Blue Jay Capital Management buys $14.4 Million stake in St. Jude Medical (STJ)

St. Jude Medical (STJ) : Blue Jay Capital Management scooped up 37,640 additional shares in St. Jude Medical during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 190,140 shares of St. Jude Medical which is valued at $14.4 Million.St. Jude Medical makes up approximately 8.95% of Blue Jay Capital Management’s portfolio.

Other Hedge Funds, Including , Caisse De Depot Et Placement Du Quebec reduced its stake in STJ by selling 6,555 shares or 5.45% in the most recent quarter. The Hedge Fund company now holds 113,645 shares of STJ which is valued at $8.6 Million. St. Jude Medical makes up approx 0.02% of Caisse De Depot Et Placement Du Quebec’s portfolio.Norges Bank reduced its stake in STJ by selling 128,889 shares or 5.56% in the most recent quarter. The Hedge Fund company now holds 2,187,856 shares of STJ which is valued at $165.7 Million. St. Jude Medical makes up approx 0.08% of Norges Bank’s portfolio.State Of New Jersey Common Pension Fund D boosted its stake in STJ in the latest quarter, The investment management firm added 80,000 additional shares and now holds a total of 1,230,000 shares of St. Jude Medical which is valued at $93.7 Million. St. Jude Medical makes up approx 0.42% of State Of New Jersey Common Pension Fund D’s portfolio.

St. Jude Medical opened for trading at $77.04 and hit $77.625 on the upside on Wednesday, eventually ending the session at $77.44, with a gain of 0.56% or 0.43 points. The heightened volatility saw the trading volume jump to 32,82,018 shares. Company has a market cap of $22,014 M.

On the company’s financial health, St. Jude Medical reported $0.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.88. The company had revenue of $1448.00 million for the quarter, compared to analysts expectations of $1437.78 million. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS.

Investors should note that on May 4, 2016, St. Jude Medical announced a cash dividend of $0.3100. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Jul 29, 2016.

Many Wall Street Analysts have commented on St. Jude Medical. St. Jude Medical was Downgraded by Sun Trust Rbsn Humphrey to ” Neutral” on May 10, 2016. St. Jude Medical was Downgraded by Credit Suisse to ” Neutral” on May 3, 2016. St. Jude Medical was Downgraded by Morgan Stanley to ” Equal-Weight” on May 2, 2016.

St. Jude Medical Inc. develops manufactures and distributes cardiovascular medical devices for the global cardiac rhythm management cardiovascular and atrial fibrillation therapy areas and interventional pain therapy and neurostimulation devices for the management of chronic pain and movement disorders. Its six principal product categories include tachycardia implantable cardioverter defibrillator (ICD) systems bradycardia pacemaker systems atrial fibrillation (AF) products (electrophysiology introducers and catheters advanced cardiac mapping navigation and recording systems and ablation systems) vascular products (vascular closure products pressure measurement guidewires optical coherence tomography (OCT) imaging products heart failure monitoring device and other vascular accessories) structural heart products and neuromodulation products (spinal cord stimulation and radiofrequency ablation to treat chronic pain and deep brain stimulation to treat movement disorders).

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